Time to Sell Carnival Corp After Today’s Option Traders Bearish Bets?

 Time to Sell Carnival Corp After Today's Option Traders Bearish Bets?

In today’s session Carnival Corp (CCL) recorded an unusually high (9,512) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the October, 2016 put, expecting serious CCL decrease. With 9,512 contracts traded and 106564 open interest for the Oct, 16 contract, it seems this is a quite bearish bet. The option with symbol: CCL161021P00045000 closed last at: $0.2 or 0% . About 1.81 million shares traded hands. Carnival Corp (NYSE:CCL) has declined 4.09% since March 14, 2016 and is downtrending. It has underperformed by 9.71% the S&P500.

Carnival Corp (NYSE:CCL) Ratings Coverage

Out of 20 analysts covering Carnival Corporation (NYSE:CCL), 12 rate it a “Buy”, 1 “Sell”, while 7 “Hold”. This means 60% are positive. Carnival Corporation has been the topic of 35 analyst reports since August 6, 2015 according to StockzIntelligence Inc. Deutsche Bank initiated Carnival Corp (NYSE:CCL) on Thursday, September 29 with “Hold” rating. On Monday, October 5 the stock rating was maintained by Citigroup with “Buy”. HSBC initiated the shares of CCL in a report on Wednesday, November 25 with “Buy” rating. On Wednesday, September 23 the stock rating was maintained by Stifel Nicolaus with “Buy”. The stock of Carnival Corp (NYSE:CCL) has “Outperform” rating given on Friday, September 9 by Bernstein. The firm has “Add” rating given on Wednesday, September 23 by Numis Securities. Deutsche Bank maintained Carnival Corp (NYSE:CCL) on Thursday, September 24 with “Buy” rating. On Tuesday, October 4 the stock rating was initiated by Macquarie Research with “Neutral”. Morgan Stanley downgraded it to “Underweight” rating and $48 target price in Friday, September 2 report. The firm earned “Buy” rating on Wednesday, November 4 by Buckingham Research.

According to Zacks Investment Research, “Carnival Corporation & plc is the largest cruise company in the world, with a portfolio of 10 cruise brands in North America, Europe, Australia and Asia, comprised of Carnival Cruise Line, Holland America Line, Princess Cruises, Seabourn, AIDA Cruises, Costa Cruises, Cunard, P&O Cruises (Australia), P&O Cruises (UK) and Fathom.”

Insitutional Activity: The institutional sentiment decreased to 0.95 in Q2 2016. Its down 0.08, from 1.03 in 2016Q1. The ratio dropped, as 55 funds sold all Carnival Corp shares owned while 199 reduced positions. 53 funds bought stakes while 188 increased positions. They now own 409.94 million shares or 6.26% less from 437.31 million shares in 2016Q1.
Smith Asset Mngmt Gp L P has 3,538 shares for 0% of their US portfolio. Swiss Comml Bank last reported 0.08% of its portfolio in the stock. Morgan Stanley accumulated 2.96 million shares or 0.05% of the stock. Adage Prns Group Lc last reported 655,000 shares in the company. Northcoast Asset Mgmt holds 2.62% or 868,284 shares in its portfolio. Canada Pension Plan Investment Board accumulated 5.98 million shares or 1.07% of the stock. Stanley reported 5,000 shares or 0.09% of all its holdings. Great West Life Assurance Can has 0.11% invested in the company for 592,733 shares. Dumont And Blake Advsr Limited Liability accumulated 0.38% or 13,810 shares. The Pennsylvania-based Federated Investors Pa has invested 0.01% in Carnival Corp (NYSE:CCL). Commonwealth Of Pennsylvania School Empls Retrmt has invested 0.03% of its portfolio in Carnival Corp (NYSE:CCL). Deltec Asset Management Llc holds 0.54% or 49,000 shares in its portfolio. Ironwood Limited Liability Com, a Arizona-based fund reported 100 shares. Concert Wealth Mngmt reported 5,375 shares or 0.03% of all its holdings. State Street Corp, a Massachusetts-based fund reported 17.49 million shares.

Insider Transactions: Since October 3, 2016, the stock had 0 buys, and 1 sale for $198,213 net activity. On Monday, October 3 Bernstein David sold $198,213 worth of the stock or 4,030 shares.

Carnival Corporation is a leisure travel company. The company has a market cap of $33.10 billion. The Firm is a cruise firm and provides vacations to cruise destinations throughout the world. It has a 14.12 P/E ratio. The Firm aggregates its approximately nine global, regional and national cruise brands into North America, and Europe, Australia & Asia divisions.

CCL Company Profile

Carnival Corporation, incorporated on November 21, 1974, is a leisure travel company. The Firm is a cruise firm and provides vacations to cruise destinations throughout the world. The Firm aggregates its approximately nine global, regional and national cruise brands into North America, and Europe, Australia & Asia (EAA) divisions. The North America segment includes Carnival Cruise Line, Princess Cruises (Princess), Holland America Line and Seabourn cruise brands. The EAA segment includes Costa Cruises, AIDA Cruises, P&O Cruises (UK), P&O Cruises (Australia) and Cunard cruise brands. The Company’s Cruise Support segment includes its cruise port and related facilities located in Cozumel, Mexico; Grand Turk, Turks and Caicos Islands; Puerto Plata, Dominican Republic, and Roatan, Honduras. The Cruise Support segment also includes other services that are provided for the benefit of all its cruise brands. The Tour and Other segment includes Holland America Princess Alaska Tours, a tour firm in Alaska and the Canadian Yukon, and approximately three cruise ships, the former Costa Celebration, Costa Europa and Grand Holiday, which it owns and charters-out under long-term leases. The Company’s tour firm owns and operates approximately 10 hotels or lodges, over 300 motorcoaches and approximately 20 glass-domed railcars.

More notable recent Carnival Corp (NYSE:CCL) news were published by: Sun-Sentinel.com which released: “Carnival Corp. posts $1.4 billion profit in third quarter” on September 26, 2016, also Miamiherald.com with their article: “Carnival Corp. taking over Saturday morning TV with 3 new travel shows” published on September 19, 2016, Streetinsider.com published: “S&P Upgrades Carnival Corp. (CCL) to ‘A-‘; Outlook Stable” on October 13, 2016. More interesting news about Carnival Corp (NYSE:CCL) were released by: Marketwatch.com and their article: “Carnival Corp.’s Chinese joint venture orders first cruise ships built in China” published on September 23, 2016 as well as Sun-Sentinel.com‘s news article titled: “Carnival Corp. donates $2 million to new African-American museum in DC” with publication date: September 28, 2016.

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